Ulus, Aysegul; Yildiz, Halis M. - In: The B.E. Journal of Economic Analysis & Policy 12 (2012) 1
practices free trade, low home tariffs yield international mergers irrespective of the substitutability levels. By contrast …, when foreign tariffs are sufficiently high and products are close substitutes, national mergers obtain in the equilibrium …. Unlike this asymmetric result of unilateral trade liberalization, we find that when bilateral tariffs are sufficiently low …